ArcelorMittal SA (ADR) (NYSE: MT) has reported the net profit of $1.21 billion in the third quarter of FY 17, almost doubling the prior year result of $680 million and exceeding an analyst consensus from FactSet of $770 million. The sales grew more than 21% to $17.08 billion from $14.52 billion a year earlier. The company was able to increase local sales due to the implementation of the safeguard measures aimed at limiting steel imports. Therefore, the local sales grew 6% in the third quarter, mainly due to higher local demand for flat steel products after the government implemented import duties on hot-rolled coil products. The stock sentiment is strong today, which rose over 5% on November 10th, 2017 (as of 9:43AM EST; Source: Google finance) The Export sales grew 48.5%, with flat steel products increasing by 22,000 tonnes and long steel products by 44,000 tonnes. The steel shipments were up 6.9% at 21.7 million metric tons, while the iron ore shipments has increased 8.1% to 15 million metric tons. The company also has booked a foreign exchange gain of $132 million, compared with a $223 million loss a year earlier. Income tax expenses fell $75 million on the year. The company also raised concerns about the costs of electricity and rail, which would affect the viability of some its plants. MT’s steady performance during the third quarter is due to the recovery taking hold in the global steel sector, after a sharp collapse in prices for the grey metal two years ago triggered by oversupply that hit producers hard in many countries. This had dragged MT into large losses and forced the company to tap shareholders for capital last year. MT has also unveiled a plan aimed at boosting its core profits by $3bn by 2020, through a mixture of cost-cutting, increased production and a focus on higher-value forms of steel. Despite the improving market conditions, the industry expert say that a global surplus of steel factories, particularly in China, still poses a threat to the health of the wider industry. The US and the European Union have imposed a number of trade tariffs on steel imports from China and other countries that are deemed to be dumped, meaning sold below the cost of production or domestic market prices. The EU regulators this week has opened a full-scale investigation into whether ArcelorMittal’s proposed €1.8bn acquisition of Europe’s largest steel plant, Ilva in Italy, will reduce competition. ArcelorMittal stock has fallen 58.4% in the last six months (source: Google Finance).

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Twitter Inc (NYSE: TWTR) stock rose over 4.3% in the pre-market session of Feb 10th, 2021 (Source: Google finance) after the company posted better than expected results for the fourth quarter of FY 20, however the company failed to meet Wall Street’s user growth expectations. The company reported 27% increase in Monetizable daily active users (mDAUs) to 192 million vs. 193.5 million expected, according to StreetAccount. TWTR grew total ad revenue 43% sequentially. On a year-over-year basis, US ad revenue rose up 27% and international ad revenue was up 35% compared to 11% and 20% respectively in Q3. Advertiser demand was stronger than expected throughout the quarter outside of the short period bracketing the US elections on November 3. The company has made significant progress with new ad formats, stronger attribution and improved targeting in Q4 and that momentum continues in Q1 with the launch of the rebuilt MAP offering and website clicks objective. These improvements allows the company to serve the TR advertisers of all sizes with better performance. TWTR in the fourth quarter of FY 20 has reported the adjusted earnings per share of 38 cents, beating the analysts’ estimates for the adjusted earnings per share of 31 cents, according to forecast by Refinitiv. The company had reported the adjusted revenue growth of 28 percent to $1.29 billion in the fourth quarter of FY 20, beating the analysts’ estimates for revenue of $1.19 billion. Going forward, the company expects revenue to grow faster than expenses in 2021, assuming the pandemic continues to improve and taking into account an expected “modest impact” from Apple’s upcoming privacy changes to iOS 14. However, the company warned it projects headcount growth of more than 20% this year, with overall expenses increasing more than 25%. The company expects revenue to be in the range of $940 million and $1.04 billion in the first quarter. Analysts were expecting guidance of $965 million on average, according to Refinitiv. The company expects to see mDAU growth of approximately 20% year over year in the first quarter as the increase in average absolute mDAU through the end of January was above the historical average. On the other hand, the company has permanently suspended President Donald Trump’s account, which had about 88 million followers, after the world leader’s fanning of conspiracy theories about voter fraud and election theft spurred thousands of his supporters to lay siege to the Capitol.

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Twitter Inc (NYSE: TWTR) stock rose over 4.3% in the pre-market session of Feb 10th, 2021 (Source: Google finance) after the company posted better than expected results for the fourth quarter of FY 20, however the company failed to meet Wall Street’s user growth expectations. The company reported 27% increase in Monetizable daily active users (mDAUs) to 192 million vs. 193.5 million expected, according to StreetAccount. TWTR grew total ad revenue 43% sequentially. On a year-over-year basis, US ad revenue rose up 27% and international ad revenue was up 35% compared to 11% and 20% respectively in Q3. Advertiser demand was stronger than expected throughout the quarter outside of the short period bracketing the US elections on November 3. The company has made significant progress with new ad formats, stronger attribution and improved targeting in Q4 and that momentum continues in Q1 with the launch of the rebuilt MAP offering and website clicks objective. These improvements allows the company to serve the TR advertisers of all sizes with better performance. TWTR in the fourth quarter of FY 20 has reported the adjusted earnings per share of 38 cents, beating the analysts’ estimates for the adjusted earnings per share of 31 cents, according to forecast by Refinitiv. The company had reported the adjusted revenue growth of 28 percent to $1.29 billion in the fourth quarter of FY 20, beating the analysts’ estimates for revenue of $1.19 billion. Going forward, the company expects revenue to grow faster than expenses in 2021, assuming the pandemic continues to improve and taking into account an expected “modest impact” from Apple’s upcoming privacy changes to iOS 14. However, the company warned it projects headcount growth of more than 20% this year, with overall expenses increasing more than 25%. The company expects revenue to be in the range of $940 million and $1.04 billion in the first quarter. Analysts were expecting guidance of $965 million on average, according to Refinitiv. The company expects to see mDAU growth of approximately 20% year over year in the first quarter as the increase in average absolute mDAU through the end of January was above the historical average. On the other hand, the company has permanently suspended President Donald Trump’s account, which had about 88 million followers, after the world leader’s fanning of conspiracy theories about voter fraud and election theft spurred thousands of his supporters to lay siege to the Capitol.

SOURCE : https://tradertalks-net.translate.goog/s/15003?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp